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Xpeng Motors to begin trading tomorrow on HKSE

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Miguel A. Rodriguez
Miguel A. Rodriguez
06 July 2021
Tesla's Chinese rival plans to raise $1.8 billion in Hong Kong IPO

Tesla's Chinese rival Xpeng Motors will reach another significant milestone tomorrow as they make their debut on the Hong Kong Stock Exchange. The smart electric vehicle company is set to start trading on HKSE, following its New York IPO from August 2020, which raised $1.5 billion after jumping 67% on the first day of trading.

 

The company plans to use the net proceeds from the Hong Kong IPO to expand its product portfolio and develop more advanced technologies. Bank of America Securities and JPMorgan Chase are the joint bookrunners for the sale of 85 million shares at HK$165.

 

The Guangzhou-based company joins a long list of U.S.-listed Chinese companies with secondary offerings in Hong Kong. Companies listing in Hong Kong have raised US$9.6 billion in IPO proceeds in the first two months of 2021, the highest amount ever to start a year.

 

Trade Xpeng IPO

 

Sources: scmp.com, reuters.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.